NVA 2.78% 17.5¢ nova minerals limited

Ann: Trading Halt, page-66

  1. 3,848 Posts.
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    Personally I'm not too concerned about the funding, its a great project so I believe Chris when he says there has been plenty of interest.

    What does concern me is the bottle necks in the exploration process, i.e. labs etc. It's no good having 10 rigs spinning up pointed at non gold bearing dirt if it will take the labs 12 months to process, and provide guidance for the next drills.

    In saying that, I don't believe there is much drilling left to do for the next couple of years, other than infill drilling etc. This funding package will hopefully take us all the way through to a decision to mine, so hopefully a couple years of funding to cover all the studies and any additional drilling planned to shore up the current targets. I don't believe drilling unknown targets at this point would provide much value, unless there is a rig already paid for with nothing to do. They should focus on the fastest path to first gold pour, leaving train and stoney for 12-24 months as a side project when things slow down.
 
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